Polaris (NYSE:PII) Given New $97.00 Price Target at Royal Bank of Canada

Polaris (NYSE:PII) had its price target reduced by Royal Bank of Canada from $103.00 to $97.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a sector perform rating on the stock.

Several other analysts also recently issued reports on the company. Truist Financial reduced their price target on Polaris from $96.00 to $92.00 and set a hold rating for the company in a research note on Wednesday. KeyCorp dropped their price objective on Polaris from $115.00 to $105.00 and set an overweight rating for the company in a report on Friday, January 12th. DA Davidson reaffirmed a neutral rating and issued a $80.00 price objective on shares of Polaris in a report on Tuesday, March 5th. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price objective for the company in a report on Monday, April 8th. Finally, Robert W. Baird dropped their price objective on Polaris from $110.00 to $100.00 and set an outperform rating for the company in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Polaris presently has an average rating of Hold and an average price target of $100.27.

Polaris Stock Performance

PII opened at $85.21 on Wednesday. The business has a fifty day simple moving average of $92.86 and a 200 day simple moving average of $91.61. The company has a market capitalization of $4.81 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 2.35 and a beta of 1.60. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.46.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.17. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 EPS. Research analysts expect that Polaris will post 7.97 EPS for the current year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from Polaris’s previous quarterly dividend of $0.65. Polaris’s payout ratio is 38.71%.

Institutional Investors Weigh In On Polaris

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in Polaris during the 4th quarter worth $27,000. BKM Wealth Management LLC bought a new stake in Polaris during the 4th quarter worth $31,000. Verity & Verity LLC bought a new stake in Polaris during the 1st quarter worth $37,000. First United Bank & Trust bought a new stake in Polaris during the 4th quarter worth $40,000. Finally, Larson Financial Group LLC grew its position in Polaris by 536.5% during the 3rd quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock worth $42,000 after acquiring an additional 338 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

About Polaris

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.